This paper analyzes the stability over time of the econometric process for euro-area inflation since 1970, focusing in particular on the behavior of the so-called persistence parameter (the sum of the coefficients on the ...
This paper analyzes the stability over time of the econometric process for Euro-area inflation since 1970, focusing in particular on the behaviour of the so-called persistence parameter (the sum of the coefficients on the ...
As in Caporale and Pittis, this paper finds significant evidence supporting the hypothesis of long-run equilibrium relationships between inflation rates in countries which participate in the ERM. However, the results differ ...